The petition says that if Matthews Yard's current home is demolished and an alternative isn't found, it will have to close this summer.

A possible new location has not been determined yet, but Mr Bonar said he wanted to show people in Croydon want the venue, which is also home to popular eatery Burger & Beer, to stay, one way or another.

The founder of Matthews Yard, Saif Bonar (Image: David Cook)

Mr Bonar told the council meeting: “There's a lot of people [in Croydon] who would miss it, and I should put up a fight for it.

“It would be selfish of me not to do everything in my power to try and save it.”

“I started work on Matthews Yard the day after the [Croydon] riots, on a shoestring budget,” he added.

“We’ve never had any grant funding or financial support from the local authority or other bodies.

“While we are presently a full profit company, profit quickly ceased to be a motive for the business when I realised the profound impact we were having on the lives of ordinary people in Croydon.”

Councillor Vidhi Mohan, representing the Fairfield ward, agreed with Cllr Watson in praising Matthews Yard, but also hit out at the council.

He said: “This fantastic community facility is under threat because the administration wants to demolish the existing building and put up a block of luxury flats.”

A drawing showing how the flats could look from a different view (Image: Regent Land)

The supporting statement submitted to the council on behalf of Regent Land states: “The existing building is identified as having a neutral contribution to the conservation area.

“There is therefore an opportunity to enhance the site and surrounding area through a high-quality redevelopment of the site and there is no in-principle objection to demolition of the existing building.”

A petition to save Matthews Yard was launched last August

The statement continues: “Significant work has been undertaken through the pre-application process in regards to the proposal’s impact on the conservation area, the historic significance of Surrey Street and impact of the proposed mass on the surrounding area.

“The building’s overall scale, massing and height is now considered to be generally acceptable.”

The developer had initially considered making the block 12 or 14 storeys high but has since adapted its plans.